Final Answer:
The policy will go into effect after all of the following actions occur except the (C) Initial premium is paid.
Step-by-step explanation:
In the insurance domain, policies typically require the completion of several steps before becoming effective. The underwriting process involves evaluating the risk associated with the applicant, determining premiums, and deciding whether to issue the policy. Once this is completed, the policy undergoes a delivery process where it is given to the applicant. Alongside this, there's a "free - look period," allowing the policyholder to review the policy and, if unsatisfied, return it for a refund.
However, the key element missing in the sequence is the payment of the initial premium. The policy’s commencement usually h.i.n.g.e.s on the completion of the underwriting process, delivery of the policy, and expiration of the free - look period. The absence of the initial premium payment delays the activation of the policy, as it remains a crucial component before the coverage officially begins, making option C the exception.
Correct answer: C) Initial premium is paid